LAWRENCEVILLE, Ga. — Over the last four weeks, depreciation rates for both cars and trucks began to show some consistency, according to Black Book, with car depreciation having picked up since January. Having been a little more volatile, truck depreciation began to accelerate over the last month or since the spring selling season.
On a volume-weighted basis, overall car values decreased by .047% last week, or $56, virtually mirroring the 0.44% rate recorded over the previous two week. Compact cars, mid-size cars and luxury cars experience the most significant drop in value, decreasing 0.82%, 0.72% and 0.71%, respectively.
Overall truck values also mirrored the average depreciation rate recorded over the previous two weeks (0.3%), with values decreasing by 0.33% over the last week on a volume-weighted basis. Experiencing the largest decrease were mid-size luxury crossovers and SUVs, with values falling 0.78%.
On a year-to-date basis, truck values showed stability with strong retention during the spring. “In the last four weeks, however, truck depreciation has increased and remained consistent,” the firm noted in its Black Book Market Insights report.